Brokerages set Vornado Realty Trust (NYSE:VNO) PT at $30.43

Vornado Realty Trust (NYSE:VNO – Get Free Report ) has been assigned a consensus rating of “Reduce” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.43.

VNO has been the subject of several analyst reports. Scotiabank boosted their price target on Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Evercore ISI upped their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Goldman Sachs Group upped their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research note on Thursday, September 12th. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $22.00 to $30.00 in a research note on Thursday. August 8. Finally, Truist Financial upped their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Tuesday, the 27th August.

Read our latest report on VNO

Insider trading at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a legal filing with the SEC, which is available via this link. Insiders own 8.14% of the company’s shares.

Institutional inputs and outputs

A number of institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its holdings in shares of Vornado Realty Trust by 2,410.2% during the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after acquiring an additional 934,271 shares during the period. Bank of Montreal Can raised its stake in Vornado Realty Trust by 2,229.1% during the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after bought an additional 818,838 shares during the period. Natixis purchased a new position in Vornado Realty Trust in the first quarter valued at approximately $21,564,000. Duff & Phelps Investment Management Co. grew its position in Vornado Realty Trust by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Vornado Realty Trust by 324.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock valued at $20,292,000 after buying an additional 590,176 shares during the period. 90.02% of shares are currently owned by institutional investors.

Vornado Realty Trust trading rose 0.1%

NYSE VNO opened at $38.88 on Wednesday. The company’s 50-day moving average price is $33.34 and its 200-day moving average price is $28.60. Vornado Realty Trust has a one year low of $18.36 and a one year high of $39.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21, and a current ratio of 5.21. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 259.22 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO – Get Your Free Report ) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. In the same period last year, the company earned $0.72 per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Vornado Realty Trust will post 2.17 EPS for the current year.

Vornado Realty Trust Company Profile

(Get a free report

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of prime New York office and retail assets and the developer of the new PENN DISTRICT. Although focused in New York, Vornado also has major assets in both Chicago and San Francisco. Vornado is the real estate industry leader in sustainability with over 27 million square feet of LEED certified buildings and over 23 million square feet at LEED Gold or Platinum.

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